Information has leaked from the FCC regarding a 7-inch TouchPad. This device will probably be powered by a 1.5GHz processor, have support for AT&T's HPSA+ network and be called the TouchPad Go. 
The product labels indicate that there will be a 16GB and 32GB model with Wi-Fi and HSPA+ variants. Since it has been through the FCC it won't be too long before we see this model in retailers. 
The larger model has not been very successful in the market. The device has had issues with it's built quality and performance. I personally like the feel of the TouchPad and webOS but agree that the performance falls short compared to Android and iOS.
source - Electronista